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availability of operating subsidy from HUD. If this does not take place as anticipated, staff will <br />bring the matter back for review so that appropriate adjustments can be made. <br /> <br />HOUSING COMMISSION RECOMMENDATION <br /> <br />The Housing Commission reviewed the proposed budget at its meeting of June 2, 2005. The <br />Commission discussed the budget and felt that it was realistic. The Commission voted <br />unanimously to recommend approval of the annual Operating Budget for fiscal year 2005/06. <br /> <br />FISCAL IMPACT <br /> <br />There are no financial impacts to the City of Pleasanton as a result of the approval of the <br />Operating Budget. Housing Authority revenues and expenditures are recorded and maintained <br />separately from those of the City of Pleasanton. <br /> <br />STAFF RECOMMENDATION <br /> <br />In accordance xvith Section 2.36.032 of the Municipal Code, the Housing Authority of the City <br />of Pleasanton Board of Directors is required to formally adopt the annual Operating Budget. <br />Therefore, staff is recommending that the Board: <br /> <br /> 1) Adopt the attached draft resolution approving the attached Operating Budget for <br /> Kottinger Place for fiscal year 2005/06 and authorizing its submittal to the U.S. <br /> Department of Housing and Urban Development (HUD). <br /> <br />Respectfully Submitted, <br /> <br /> Steven Bocian <br />Executive Director <br /> <br /> KP budget 2005 CCSILdcc/SB/sfe <br /> 5/23/05 2:33 PM <br /> <br /> Attachments: <br /> <br /> 1. Draft Resolution <br /> 2. Annual Operating Budget for Kottinger Place for FY 2005/06 <br /> <br /> SR:05:150 <br /> <br /> <br />